William Liu
Current Events Journal
AP Government
2/11/2014
As the Economy slowly seemed as if it was getting better it slowed down. According to N.Y. Times article posted by Nelson D. Schwartz the government has announced that jobs are being created at the slowest pace in 3 year. The wintry weather could have been one of the reasons for the inhibited hiring but even so there were many other trends that contributed such as hourly earnings and labor participation rate. During the November of 2013 employers added 241,000 workers but as of last month there were only 74,000 jobs added and the monthly average increase of 182,500 over the course of 2012 and 2013. This statistic shows that the monthly jobs added are way below average.
“The work force shrank by 347,000 in December, reversing a big gain from November, and returning the proportion of Americans in the labor force to its October level of 62.8 percent, the lowest in 35 years.”
Workers around the age 45 to 54, the participation rate dropped .4 percentages to 79.2 percent, which was the lowest since 1998. Dr. Edwards talks about how there is regulation in economy and in everyday life “Government regulation is the use of governmental authority to control or change some practice in the private sector. Everyday life is the subject of bureaucratic regulation. Almost all bureaucratic agencies are in the regulatory business.” On pages 487-492 chapter 15 explains how the government can change some of rules or ways of the
